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Level 2
posted Mar 14, 2021 5:56:20 PM

Missing Form 8949 Part 1 in TurboTax 2020 Deluxe

Hello Everyone:

 

I have finished importing my financial data from my brokerage (Schwab) and prior to completing my 2020 Tax Return, I decided to print a DRAFT pdf of my tax return for proof reading.  I see that Form 8949 Part 1 is not present.  The imported information from Schwab is correctly populated and I have over 100 Short Term Gains & Losses that amount to a small net gain.  Nonetheless, when printing the DRAFT, Form 8949 Part 1 does not generate in my DRAFT.  Please note that Form 8949 Part 2 does generate and is accurate.  Is this a software glitch??  Would someone be able to help?

 

I appreciate any suggestions/advice.

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3 Replies
Level 15
Mar 14, 2021 6:40:10 PM

Are the total proceeds, cost, and gain for the short-term sales shown on line 1a of Schedule D? If so, Form 8949 is not used for those sales.


Are you using TurboTax Online or the CD/Download TurboTax software?


Where do you see the imported short-term sales "populated" if they are not on Form 8949?

 

Level 2
Mar 14, 2021 7:12:08 PM

Thank you rjs!

 

Yes, the total proceeds, cost, and gain for the short-term sales are shown on line 1a of Schedule D !!

 

In answer to your second question, I am using TurboTax Download.

 

In answer to your third question, ...the "populated" data was contained in the TurboTax program itself when I chose to "Edit" and therefore review the data entries.  This myriad of Short Term Gain/Loss data did not appear as a lengthy "worksheet" (for lack of a better term?) as it did on my previous TurboTax 2019 Form 8949 Part 1 last year.  Thus my concerns were aroused.

 

I do believe you have answered my question if I understand correctly and consequently I am most appreciative!  Thank you Champ!

New Member
Apr 29, 2021 7:50:07 PM

I had the same problem and this answer caused me to read the fine print on Schedule 1a and 8a, which explain the change.

Thanks